Bengaluru-based retail SaaS company Impact Analytics raised $40 million in a funding round led by Sageview Capital with additional support from long-time partner Vistara Growth.  

As part of this transaction, Jeff Klemens, partner at Sageview Capital, and Prashanth Palakurthi, senior advisor at Sageview Capital and founder and former CEO of Reflexis Systems, will join the company’s board of directors, the company said in a statement.  

Started in 2015, Impact Analytics offers an integrated retail, grocery, CPG, and supply chain-focused suite of native AI-powered planning and merchandising products. 

The company claims to have developed cost-competitive SaaS applications built on a best-of-breed platform that incorporates artificial intelligence, highly scalable cloud computing, and customer-oriented design.   

“Sageview Capital partners with proven companies that leverage disruptive technologies and that have an intimate understanding of their customers’ business challenges and objectives,” said Klemens. “Impact Analytics excels in all these regards as a pioneer in their space and we look forward to a fruitful and exciting partnership.” 

Needham and Company served as the exclusive financial advisor and Cooley LLP served as the legal advisor to Impact Analytics. Gunderson Dettmer served as the legal advisor to Sageview Capital. Barnes & Thornburg served as the legal advisor to Vistara Growth. 

“Under the leadership of Prashant Agrawal, the company’s founder and CEO, we have seen true dedication to customer success and technological innovation, driving meaningful growth and opportunity. The market has recognized Impact Analytics as a leader in its category and we see the company developing into an industry juggernaut,” said Neil Kenley, principal at Vistara Growth.  

"This funding round could not have come at a more propitious moment; we could not have imagined better partners than Sageview and Vistara, and adding Palakurthi and Klemens is especially satisfying as they have both been there, done that," said Impact Analytics founder and CEO Prashant Agrawal. "Impact Analytics technology is unassailably the best, our client loyalty is truly humbling, and our strategic partnerships are strong and growing stronger. With Sageview and Vistara at our side, we’ll ride this tide to bring our solutions to an ever-widening audience.”  

The company added that it will use this funding to expand its Bengaluru-based team to ensure its technology platform and AI capabilities continue to be an industry leader. The funds will also be utilised to expand its sales, marketing, and customer service organisations across geographies, deepen strategic partnerships, and strengthen its balance sheet in anticipation of future growth opportunities, the statement added.